Is it better to talk to your real estate lawyer than to a title company with regards to the matter of selling your house? Well basically, the choice is all yours to make however, it is imperative that you figure out first the differences that real estate lawyers and title companies have. For that matter, the following can help you learn more about the two and on which services you are going to benefit more.
Real estate lawyers specialize in laws that are connected to real estate and make sure that your best interests are met. Legal representatives might act as an escrow agent because it is them whom you should be talking to in making helping you for the requisite documentation, earnest money and holding your down payments. These lawyers will also be there to help you to thoroughly understand the legalities involved into the transaction, offer made by buyers and also, the rights you have as seller.
Not only that, the real estate lawyer can take care of closing in the event that the lender’s attorney does not do that. Keep in mind that all real estate attorneys have 2 major responsibilities and this is to represent clients at the closing and advise the documentation process for the entire transaction.
Not only that these services are provided by the lawyer, you’ll see them as well negotiating for modifications in contract purchase that seller wants to incorporate. Another vital aspect of real estate lawyers is to prepare the seller’s deed. The lawyer you’ve hired will accompany you as well on meeting the buyer/client at time of settlement. It’s him or her who is going to give sound advice on involved tax implications in the property sale or home sale.
Now when talking about title companies, they are more of an insurance agent that represent title insurance companies. These companies insure the titles to the lender and buyers as well by ensuring that the title is free from encumbrance which might possibly lead to financial loss. Title company guarantees the buyer as well that they will get their title on the property or home without liens against it. The availability of the title on a specific property is clear and at the same time, vouched for by the company as well. Throughout the process, the firm will be protecting the interests and the rights of both sides in question.
In most instances, several title companies insure the closing by considering the help of a lawyer. Title companies can take care as well of the down payment and close the property without any additional costs; they can even offer discounts on title insurance if you have had used their services before like for buying or refinancing your property.